The National Investment and Infrastructure Fund (NIIF) of India has just announced that AustralianSuper, Australia’s largest superannuation fund, and Ontario Teachers’ Pension Plan (Ontario Teachers’), Canada’s largest single-profession pension plan, have each signed agreements for investments of up to USD 1 billion with the NIIF Master Fund.
The agreements include commitments of USD 250 million each in the Master Fund and co-investment rights of up to USD 750 million each in future opportunities alongside the Fund.
AustralianSuper and Ontario Teachers’ will now join the Government of India (GOI), Abu Dhabi Investment Authority (ADIA), Temasek, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as investors in the Fund.
Pictured Mark Delaney, CIO, AustralianSuper
AustralianSuper and Ontario Teachers’ will also become shareholders in National Investment and Infrastructure Fund Limited, NIIF’s investment management company. Domestic investors HDFC Life and Kotak Mahindra Life Insurance have further committed INR 600 million in the third round.
With this, NIIF Master Fund becomes the largest infrastructure fund in India with assets under management of over USD 1.8 billion and a co-investment pool of USD 2.5 billion, which will enable the Fund to invest at the scale required for the large infrastructure requirements in India.
Well done AustralianSuper – leading the way for investing in India.